2015-12-14 General Committee Agenda Attachment 1 to Item 3 Noosa Shire Economic Plan

     1             Executive Summary


Noosa is recognised as one of Australia’s most            work in the region sees Noosa Shire report a median
desirable places to live, work and visit, thanks to its   household income below that of the SEQ Region and
outstanding beauty, mild subtropical weather and          the State.
enviable lifestyle opportunities. A strong economy
is one of the essential elements necessary to             The Shire has an unemployment rate of 7.3%. Gross
sustain this. This Plan looks beyond tourism-driven       Regional Product was $2.6 billion in 2013-14. This
economic growth and employment, towards a more            has grown 2.5 % per annum over the last 5 years
resilient and diversified economy. Furthermore,           which is above that of the SEQ Region at 2.2% and
it complements existing community values whilst           2.1% for the State.
considering opportunities for careers and businesses
                                                          This Plan identifies: industry diversification; effective
to flourish.
                                                          land use planning; enterprise support; essential
The aim of the Noosa Shire Local Economic Plan            infrastructure; skilled and connected businesses and
(The Plan), is to broaden the economic structure of       implementation; monitoring and reporting as key
the local economy by achieving growth in ‘smart’          themes to achieve diversification. Healthcare and
industry sectors that offer high economic value           wellness, digital economy, environmental industries,
and low environmental impact. Particularly those          rural enterprise, creative industries and professional
that export outside of the Shire and align with our       services are recognised as priority industry sectors
environmental and social values.                          of competitive advantage that will support economic
                                                          growth and provide employment opportunities.
Fundamental to a shift towards a smart economy is
the attraction and retention of skilled and talented      This Plan was developed consistent with Council’s
people, and the development of collaborative              sustainability principles and in collaboration with
institutional alliance’s and connections.                 the community. Community opinion was sought
                                                          via two public workshops and through Council’s on-
Noosa’s economy relies significantly on the tourism,      line community engagement portal, Your Say Noosa.
retail and construction sectors and is home to            A Project Focus Group made up of representatives
approximately 7,400 businesses which are mainly           from the community, business and industry
small or micro businesses. It is also home to a           reviewed information obtained during community
range of very successful entrepreneurs and skilled        consultations. The Group then identified gaps, and
businesspeople.                                           contributed, tested and prioritised ideas.

Noosa has an ageing population. In 2011 the median        The delivery of this Plan will be the result of
age for the Shire was 46 years compared to 38 and         collaborative projects undertaken in partnership
36 years in the South East Queensland Region and          with business, industry and government agencies,
the State respectively.                                   as well as business representative groups and
                                                          organisations. The Action Plan will be reviewed
Three of the top 5 employment sectors in Noosa            annually and updated to reflect the outcomes of the
are primarily geared towards providing for local          review. As part of the annual operational planning
residents and tourism driven industries. They are         and budget process, an Implementation Plan will
Retail, Accommodation & Foods Services, and               be developed, that describes priority initiatives and
Construction. The Retail and Accommodation and            identifies partners or lead agents where known.
Food Services sectors also offer the lowest wages,
and this combined with high proportion of part-time                             Noosa Shire | Local Economic Plan | Page 5